At the same time, the pace of change of information technology is accelerating at an exponential rate: cloud computing, teleprescence, remote work stations - the list grows daily. The need to be tech-savvy has gone far beyond Silicon Valley; 21st century leaders in every industry will strategically embed and adapt informational technology within their organizations and throughout their markets or they will cease to exist.
We are arguably in the midst of the biggest workplace paradigm shift since WWll. The manufacturing based economy of the last century has given way to an economy driven by increasing globalization and accelerating innovation in communications and information technology. This is often referred to as the new 'Knowledge Intensive Economy'. And in this new economy the knowledge is the talent - and those who have the top talent will win.
Successful 21st century organizations will evolve from traditional command and control hierarchies to more responsive and flexible collaborative organizations. But they must retain acquired expertise and decision making capacity while they embrace rapidly evolving technology throughout their organizations and markets; They must capitalize on their traditional strengths while embracing change.
Could the multigenerational workforce be the "just-in -time" talent solution to the challenges of the new 'knowledge intensive' economy'?
The Boomers (46- 65 years old) are still leading many of today's organizations; They are the repository of accumulated market, technical, and corporate wisdom. They have 'paid their dues' and expect respect and recognition for their considerable accomplishments. Although some of the younger boomers are highly fluent with today's information technology (eg., Bill Gates!) it is not a widely held competency of that generation, beyond e-mail and PDA's.
As the Boomers mature, they want to step back from the workaholic culture that they invented - but they are not ready to retire. They will provide the stability critical for organizations to evolve from traditional heirarchical models to the more responsive collaborative models demanded by globalization and rapidly developing information technology.
Gen Y (30 years old and younger), and to a lesser extent the smaller Gen X cohort (31 to 45 years old), live on the cutting edge of information technology. They do not know a world without facebook, twitter, and team work. They live in a universe of information transparency. Boundaries between work and home are blurred. They are smart and tech-savvy, and they want to make a big impact - now! They believe in working smarter, not longer. Although inexperienced, they are coachable. These are the future owners, and consumers, of the 'new knowledge economy'.
Despite much commentary to the contrary, the two largest generations, the Boomers and Gen Y, share a number of core values. Gen Ys are, after all, the beloved children of the boomers. Those shared values will be the foundation of the adaptive and responsive organizations required for 21st century leadership. They are:
(1) The desire to 'give back' - to their community, to society, to the planet. Both Boomers, as they mature, and GenYs, raised on an ethic of service, want to make a contribution beyond their professional responsibilities. And they want it to mirror their values, to be meaningful in a larger context than just their job or even their employer.
(2) The desire for work/life balance and the professional flexibility to achieve it. Whether they are contributing to the 'greater good' or exploring non-professional passions or hobbies, both Boomers and GenYs want the flexibility to pursue personal fullfillment, as they define it. This may mean the ability to work remotely, the option of sabbaticals, Results Only Work Environment (ROWE), or even phased retirement.
(3) Teamwork - GenYs do not like to work in isolation. Although they are frequently accused of being isolated with their electronic devices, they are in fact accustomed to being constantly connected. And boomers were the first generation to move toward a more collaborative, less hierarchical structure, organized around teams. In a collaborative team culture, opportunities abound for cross generational mentoring, transferring both acquired expertise and informational technology across the generations.
Those 21st century organizations that leverage specific generational strengths around these shared multi-generational core values will not only accelerate their organization's adaptive capacity; They will also attract the top talent of every age group.
And in an increasingly knowledge driven economy, it is all about the talent.By Mary Lawrence Wright, CEO, Career Compass Worldwide
http://www.careercompassworldwide.com/
Next Issue: Creating a multigenerational culture and the companies that are leading the way.
